Stoneridge Investment Partners LLC boosted its stake in WestRock Co. (NYSE:WRK) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 70,576 shares of the company’s stock after buying an additional 1,944 shares during the period. Stoneridge Investment Partners LLC’s holdings in WestRock were worth $2,743,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Botty Investors LLC bought a new stake in shares of WestRock during the second quarter valued at approximately $137,000. Advisor Partners LLC acquired a new stake in WestRock during the first quarter worth about $203,000. Ladenburg Thalmann Financial Services Inc. increased its stake in WestRock by 16.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,501 shares of the company’s stock worth $215,000 after buying an additional 784 shares during the period. IFP Advisors Inc increased its stake in WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock worth $221,000 after buying an additional 328 shares during the period. Finally, Rehmann Capital Advisory Group acquired a new stake in WestRock during the second quarter worth about $227,000. 90.31% of the stock is currently owned by institutional investors and hedge funds.
WestRock Co. (NYSE:WRK) traded down 0.90% during trading on Tuesday, reaching $47.24. 1,392,062 shares of the company’s stock were exchanged. WestRock Co. has a 12 month low of $29.73 and a 12 month high of $57.85. The firm’s 50-day moving average price is $45.99 and its 200-day moving average price is $41.16. The firm’s market cap is $11.75 billion.
WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $3.60 million for the quarter, compared to analysts’ expectations of $3.70 billion. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 EPS. On average, equities research analysts anticipate that WestRock Co. will post $3.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Friday, August 12th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Wednesday, August 10th. WestRock’s payout ratio is -202.70%.
A number of analysts have recently issued reports on WRK shares. Zacks Investment Research downgraded shares of WestRock from a “hold” rating to a “strong sell” rating in a report on Monday, July 4th. Citigroup Inc. lifted their price objective on shares of WestRock from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, August 31st. Credit Agricole SA lifted their price objective on shares of WestRock from $46.00 to $54.00 and gave the company an “underperform” rating in a report on Tuesday, September 6th. Barclays PLC lifted their price objective on shares of WestRock from $41.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 11th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $46.00 price objective on shares of WestRock in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $52.83.
In other WestRock news, Director John A. Luke, Jr. sold 188,103 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the transaction, the director now directly owns 837,343 shares in the company, valued at approximately $39,036,930.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.41% of the company’s stock.
WestRock Company Profile
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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